Archive for March 2019

How High is Your Overhead?

How to effectively manage your overhead: treat it like any other expense, with care and constant review. Overhead is one of those numbers that always seems too high. Why? In my experience it is because like a credit card we charge items to the card and forget that the balance is always growing. It grows in good times and then when business softens, as it ultimately will, we are stuck with the number. A little…

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When Your Family is Part of Your Business – What Now?

I believe that the family-owned business can be among the strongest business structures available into today’s competitive business. However, like any good idea it needs to be fully understood and respected for what it is by every participant (family member). There are several challenges and distinct advantages that are offered by the family-ownership structure. First and foremost is the challenge to work-life balance. I grew up in a family business and the business was a…

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What is Your Vision for Your Business?

When you started your business what was your vision? What did you want to accomplish with the business? Was it to be your own boss or something more? Everyone has their own vision of what they want their business to be. I believe that is the main reason we start a business, not only to be our own boss (or for some other reason), but to build something our way. If you do not have…

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Customer Communication and How Your Business Wins or Loses the Battle?

Getting and keeping customers is the great battle fought every day in the world of business. We all know how expensive it is to get a new customer. Therefore, we should do almost anything to keep them, right? As Sam Walton said, “There is only one boss — the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” The key to winning the…

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